Market review

In 2018, Russian coking coal concentrate consumption fell by 3% year-on-year to 37.0 million tonnes due to reduced coke demand, as well as general overhauls of blast furnaces. Overall, the Russian coking coal market is stable and no major changes are expected in 2019. Export shipments rose by 13% to 25.6 million tonnes, compared with 22.6 million tonnes in 2017, mainly due to higher shipments to Ukraine amid greater competition on the Russian market.

Domestic coking coal prices followed global benchmark trends during the reporting period. The premium Zh-grade coking coal averaged US$159 per tonne FCA Kuzbass, up 3% from US$154 per tonne in 2017, while the GZh-grade semi-soft coking coal decreased by 1% year-on-year, averaging US$113 per tonne.

Domestic coking coal concentrate consumption, mt
Coal prices, US$ /t